{"id":342175,"date":"2026-09-09T21:04:48","date_gmt":"2026-09-09T21:04:48","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/342175\/"},"modified":"2026-09-09T21:04:48","modified_gmt":"2026-09-09T21:04:48","slug":"prime-finance-supplies-63m-refi-for-chelsea-multifamily-portfolio-commercial-observer","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/342175\/","title":{"rendered":"Prime Finance Supplies $63M Refi for Chelsea Multifamily Portfolio\u00a0 \u2013 Commercial Observer"},"content":{"rendered":"

Slate Property Group<\/a> has landed a $63 million loan to refinance three multifamily buildings in Manhattan\u2019s Chelsea neighborhood, Commercial Observer has learned.<\/p>\n

Prime Finance<\/a> provided the loan for Slate\u2019s portfolio at 229 West 20th Street, 300 West 21st Street and 301 West 22nd Street, which combined feature 94 units spanning a total of 68,139 square feet. The deal closed four years after Slate secured $61.25 million of acquisition financing from Slate Asset Management (not affiliated with sponsor) for the three properties, CO first reported<\/a> at the time.<\/p>\n

SEE ALSO: LORE and Element Land $58M to Build Miami Condo<\/a><\/p>\n

\u201cThe refinancing of our Chelsea portfolio reflects both the ongoing resilience of this submarket and the lasting caliber of these assets,\u201d Martin Nussbaum, co-founder and principal of Slate Property Group, said in a statement. \u201cHaving these properties fully leased is continued affirmation of the thesis and fundamentals we built this portfolio on.\u201d<\/p>\n

Arrow Real Estate Advisors<\/a> negotiated the debt with a team consisting of Morris Betesh, Eliott Zeitoune, Alex Bailkin and Andrew Rosenberg.<\/p>\n

Slate recently renovated the three prewar buildings, including upgrading the lobbies, common areas and fa\u00e7ades. The properties are around a half mile from the High Line and Chelsea Market.<\/p>\n

Prime Finance did not immediately return a request for comment.<\/p>\n

Andrew Coen can be reached at acoen@commercialobserver.com<\/a>.\u00a0<\/p>\n

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